By Malvika Gurung
Investing.com — Investors globally are fixated on the release of the US (CPI) data for October 2022, due on Thursday, Nov 10 by the US Bureau of Labor Statistics at 8:30 am Eastern Time, i.e., 7 pm Indian time.
Investing.com has forecasted the consumer inflation to continue running hot in Oct 2022 to an , while easing from September’s print of 8.2%, floating well above the Fed’s target rate of 2%.
A dip in October’s annual CPI print is keeping into account a decline in goods prices, while services and rent prices continued to rise in the month.
The , which does not include food and energy prices, is estimated to have eased slightly to 6.5% from 6.6% last month.
Core CPI data includes prices from rent, housing, medical care and car prices while omitting the highly volatile food and gas prices, giving a clearer indication of future trends.
On an MoM basis, is forecasted to have risen 0.6% from 0.4% in September and has likely dipped 0.5% from 0.6%.
The inflation reading today will indicate the Fed’s actions on aggressive monetary tightening at upcoming meetings. A higher-than-expected figure could lead to another jumbo 0.75 bps rate hike in December.
“A lower than expected CPI number will be a trigger for a rally in markets globally. Conversely, if the inflation print is higher than expectations that can trigger a renewed risk-off in markets,” said Dr V K Vijayakumar of Geojit Financial Services.
